Wolcottville at a glance
- Population: 1,028 residents, the 296th-largest of 565 places in Indiana (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 1,009 residents here (US Census Bureau).
- 2020 to 2023 change: up roughly 1.9% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Indiana places: 296th of 565 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 48% of places in Indiana rank below it by population (US Census Bureau).
- Coordinates: 41.5255 / -85.3665, per the US Census Bureau Gazetteer.
- Nearest larger cities: Rome City, IN (3 mi); Kendallville, IN (8 mi); Lagrange, IN (9 mi); Albion, IN (9 mi); Topeka, IN (9 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Corunna, IN (13 mi); Hudson, IN (15 mi); Shipshewana, IN (15 mi), each a US Census place.
What a personal loan costs in Wolcottville
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Indiana lending rules that apply in Wolcottville
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Indiana Department of Financial Institutions (DFI), Consumer Credit Division Source says: "The industries regulated by the Consumer Credit Division are: non-depository small loan ("payday") lenders; traditional installment lenders". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan size limit | $825 maximum aggregate small-loan principal per borrower Source says: "Lenders cannot have loans ... outstanding with you at any one time if the aggregate principal amount/amount financed exceeds $825". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: Indiana Code IC 24-4.5-3-508 sets tiered maximum loan finance charges for supervised loans; the official code site renders client-side and the figure could not be confirmed from a fetched page, so no figure is asserted. | Indiana General Assembly (Indiana Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (small loans); finance charges capped at 15% of the first $250 (tiered above) Source says: "Finance charges on the first $250 of a small loan are limited to 15% of the principal". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan / installment lender licensing | Small Loan License required (IUCCC; separate Consumer Loan License for IC 24-4.5-3 loans) Source says: "unless a person is a supervised financial organization or has first obtained a small loan license from the Department of Financial Institutions (DFI)". | Indiana Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Wolcottville
The order below is a sensible way to approach a loan in Wolcottville:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Indiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.